|
STATE OF MARYLAND
Combined Statement of Changes in Plan Net Assets
Investment and Pension Trust Funds
for the year ended June 30,2000
(Expressed in Thousands)
|
|
Investment
|
Pension
|
|
|
|
Trust Fund
|
Trust Funds
|
Total
|
|
Additions:
|
|
|
|
|
Contributions:
|
|
|
|
|
Employers.............................................................................................................................
|
|
$ 277,804
|
$ 277,804
|
|
Members...............................................................................................................................
|
$2,531,218
|
182,507
|
2,713,725
|
|
Sponsors................................................................................................................................
|
|
418,339
|
418,339
|
|
Total Contributions...........................................................................................................
|
2,531,218
|
878,650
|
3,409,868
|
|
Investment income:
|
|
|
|
|
Net appreciation in fair value of investment..........................................................................
|
|
2,794,048
|
2,794,048
|
|
Interest..................................................................................................................................
|
46,047
|
622,611
|
668,658
|
|
Dividends..............................................................................................................................
|
|
235,951
|
235,951
|
|
Real estate operating net income........ ...................................................................... .............
|
|
19,548
|
19,548
|
|
Total investment income ...................................................................................................
|
46,047
|
3,672,158
|
3,718,205
|
|
Less: investment expense ......................................................................................................
|
|
174,520
|
174,520
|
|
Net investment income .....................................................................................................
|
46,047
|
3,497,638
|
3,543,685
|
|
Total additions ..................................................................................................................
|
2,577,265
|
4,376,288
|
6,953,553
|
|
Deductions:
|
|
|
|
|
Benefit payments...... ................................................................................................................
|
|
1,200,878
|
1,200,878
|
|
Distribution to participants. .....................................................................................................
|
45,671
|
|
45,671
|
|
Redemptions (Unit transactions at $1.00 per unit) ..................................................................
|
2,540,331
|
|
2,540,331
|
|
Refunds....................................................................................................................................
|
|
16,805
|
16,805
|
|
Administrative expenses...........................................................................................................
|
376
|
19,930
|
20,306
|
|
Total deductions................................................................................................................
|
2,586,378
|
1,237,613
|
3,823,991
|
|
Net (decrease) increase in plan assets ...........................................................................................
|
(9,113)
|
3,138,675
|
3,129,562
|
|
Net assets held in trust for plan participants and pension benefits:
|
|
|
|
|
July 1,1999 ..............................................................................................................................
|
710,384
|
30,050,470
|
30,760,854
|
|
June 30, 2000 ...........................................................................................................................
|
$ 701,271
|
$33,189,145
|
$33,890,416
|
The accompanying notes to the general purpose financial statements are an integral part of these financial statements.
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